GL $2-10($Algo$)$ Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries $($LO$2-3,2-4,2-5,2-6,2-7,2-8)$

On January $1,2024,$ Red Flash Photography had the following balances: Cash, $$15,000$; Supplies, $$8,300$; Land, $$63,000$; Deferred Revenue, $$5,300$; Common Stock $$53,000$; and Retained Earnings, $$28,000.$ During $2024,$ the company had the following transactions:

February $15$ Issue additional shares of common stock, $$23,000.$

May $20$ Provide services to customers for cash, $$38,000,$ and on

August $31$ account, $$33,000.$

October $1$ Pay salaries to employees for work in $2024,$$$26,000.$

November Purchase rental space for one year, $$15,000.$

December $30$ Pay dividends, $$2,300.$

The following information is available on December $31,2024$ :

Employees are owed an additional $$4,300$ in salaries.

Three months of the rental space have expired.

Supplies of $$5,300$ remain on hand. All other supplies have been used.

All of the services associated with the beginning deferred revenue have beer performed.

$\backslash$table$[[$Requirement$,\backslash$table$[[$General$],[$Journal$]],\backslash$table$[[$General$],[$Ledger$]],$Trial Balance,$\backslash$table$[[$Income$],[$Statement$]],\backslash$table$[[$Statemen$],[$SE$]]]]$

Record each of the transactions listed above in the 'General Journal' tab. Rev Balance' tabs to see the effect of the transactions on the account balances.

Record the adjusting entries in the 'General Journal' tab.

Review the adjusted 'Trial Balance' as of December $31,2024.$

Prepare an income statement for the year ended December $31,2024,$ in the

Prepare the statement of Stockholder's Equity for the year ended Decembe

Prepare a classified balance sheet as of December $31,2024$ in the 'Balance

Record the closing entries in the 'General Journal' tab.